You are given following balances as on 1st April, 2022 Machinery Account ₹ 12,50,000 Provision for Depreciation Account ₹ 2,90,000
You are given following balances as on 1st April, 2022:
Depreciation is charged on machinery at 20% p.a. by the Diminishing Balance Method. A piece of machinery purchased on 1st April, 2020 for ₹ 2,50,000 was sold on 1st October, 2022 for ₹ 1,50,000.
Prepare Machinery Account and
| Machinery Account Provision for Depreciation Account | ₹ 12,50,000 ₹ 2,90,000 |
Anurag Pathak Changed status to publish October 24, 2023
